Technological change is beneficial only when other jobs replace the ones lost.

By default, we have created a "system" of nursing-home care for the aged in which middle-class people pay exorbitant rates to for-profit nursing-home entrepreneurs - and then when private resources are consumed and the patient qualifies as a pauper, the nursing home begins billing Medicaid. This is precisely the antithesis of social citizenship; instead of the poor being accorded the dignity associated with the middle class, equality of treatment is achieved by making the middle class undergo pauperization.

The economic illusion is the belief that social justice is bad for economic growth.

As a scholarly discipline, economics has always suffered from physics envy.

Donald Rumsfeld should not just be impeached. He should be tried as a war criminal. As for Bush, he can be dispatched by the electorate while we are still a democracy.

In practice, a good deal of the outcomes produced by the market reflect nothing more than luck - good or bad.

Technological change is beneficial only when other jobs replace the ones lost.